Lavender Greenberg

Many people believe that trusts are only for the ultra-wealthy with assets worth millions, but that’s a misconception. The reality is that families with more modest assets, like a home, or a rental property, can be significantly affected by the expenses associated with probate administration. In fact, it’s often the families with these types of assets that feel the financial strain of probate the most. While those with millions in assets might navigate probate more easily, a family with a modest estate could face serious challenges, including high legal fees and lengthy delays in accessing their inheritance. Don't overlook the benefits of proper estate planning, regardless of the size of your estate. #EstatePlanning #Probate #Trusts #FamilyWealth #FinancialSecurity

One of the most important aspects of estate planning in Florida is asset protection, and Florida offers some of the best laws in the country for protecting assets. Under Florida law, certain assets are completely protected if you get sued, making them untouchable. This, combined with the no state income tax, is a significant perk of living in the Sunshine State. #AssetProtection #FloridaLaw #EstatePlanning #TaxBenefits #ProtectYourAssets

Happy New Year from all of us at Lavender Greenberg Estate Planning & Probate Law! 🎉 Wishing you a prosperous and peaceful year ahead filled with health and happiness. Here's to another year of protecting what matters most! #HappyNewYear #EstatePlanning #NewYearNewGoals #ProtectYourLegacy

A minor child’s godparent will not automatically get custody if the parent can no longer care for them. While godparents can be nominated, a court is required to give deference to guardians named in a preneed guardian form, which carries legal weight. Other directives, such as verbal wishes or informal documents, are not binding on the court. To ensure your preferred guardian is considered, it's important to complete the proper documents as part of your estate plan. #EstatePlanning #Guardianship #ProtectYourChildren

Our firm wishes you a joyful and prosperous Hanukkah! ✨ We hope this eight-day celebration is filled with light, love and happiness for you and your loved ones. #HappyHanukkah

Merry Christmas from all of us at Lavender Greenberg Estate Planning & Probate Law! 🎄 May your heart be filled with peace and happiness now and throughout the coming year! #MerryChristmas #HolidayWishes #EstatePlanning

Without an estate plan, you lose control over critical decisions for your child's future. Instead, the probate court, state laws, and court-appointed guardians step in, potentially impacting your child's financial security and limiting investment options. Planning ahead puts you in charge and helps safeguard your child's future. #EstatePlanning #ProtectYourFamily #ChildrensFuture

Keeping your estate plan current is essential to ensure your wishes are respected and your loved ones are protected. Here are some key life events that require an immediate update to your estate plan. #EstatePlanning #WillsAndTrusts #AssetProtection

Adding children as co-owners of investment accounts and real estate is a common mistake that many people make. When these assets are eventually sold by a child after a parent’s death, it can result in significant income tax consequences due to basis issues. If the child inherits assets after death, assets generally receive a new basis at death, which lowers or eliminates income taxes owed on appreciated assets. By making someone a co-owner, you might unintentionally increase their tax burden and complicate the transfer process. You also may be exposing your assets if that person is sued, files for bankruptcy or gets divorced. We recommend you consider alternative methods of asset transfer to help avoid these issues while still protecting your family’s financial future. #Tax #EstatePlanning #AssetProtection

Take some time this week to make a list of your investment, banking, retirement, and life insurance accounts. Then, contact each institution to update your beneficiary designations, ensuring the right people receive the account funds when you pass away. This simple step can save your loved ones’ time, stress and potential legal complications down the road. #EstatePlanning #BeneficiaryUpdate #FinancialSecurity #PlanAhead #ProtectYourLegacy